Current prices for homes on the market
Trends in pricing
Current levels of supply and demand
market update
CORONA DEL MAR
92625
2008-09-19
Report for the week of
2mediainfo.com
www.2mediainfo.com/info@2mediainfo.com
Presented by 2media Info
949-723-3160
To see everything available in the Corona del Real Estate Market click below
http://www.2newportbeach.com/content/corona-del-mar-mls.php
The median single family home price in CORONA DEL MAR this week is $2,599,999. The 103 homes have been on the market for an average of 156 days.
THIS WEEK
Most Expensive Listing
Least Expensive Listing
Median List Price
Average List Price
Real-Time Market Profile Trend
Total Inventory
$ 2,599,999
$ 3,750,746
$ 75,000,000
$ 1,079,500
103
Average Days on Market 156
Asking Price per Square Foot $ 1,010
Absorbed This Week* 6
Percent of Properties with Price Decrease 44 %
Percent Relisted (reset DOM) 15 %
Percent Flip (price increased) 6 %
City Overview CORONA DEL MAR
Even though the days-on-market is trending higher, so is the Market Action Index at these inventory levels, providing a neutral outlook for the market. To get a tightly targeted
understanding of homes in the market, we break each locale into quartiles. Each quartile is 25% of the homes listed.
QUARTILES
Characteristics per Quartile
*Metric “Absorbed this Week” covers properties sold and those taken off the market for other reasons.
Since sales sometimes take months to close, it is impossible to discern in real-time exactly which properties
sold.
3,185 4.0 4.0 46 25 2 2 Most expensive 25% of homes
6,501 - 8,000
1 $ 4,595,000 sq ft 146
2,800 4.0 4.0 40 26 1 1 Upper-middle 25% of homes
4,501 - 6500
2 $ 3,249,500 sq ft 196
2,525 4.0 3.0 41 26 1 1 Lower-middle 25% of homes
8,001 - 10,000
3 $ 2,325,000 sq ft 155
1,930 3.0 3.0 41 26 3 2 Least expensive 25% of homes
6,501 - 8,000
4 $ 1,579,250 sq ft 128
2media Info Market Update for CORONA DEL MAR 22Media Info | http://www.2mediainfo.com
PRICE
The market seems to have paused around this plateau. The Market Action Index is a good leading indicator for the durability of this trend.
QUARTILE PRICES
Pricing trends have been lacking strong directional indication lately. Prices in Quartiles 3 and 4 have been mixed in recent weeks, while Quartile 2 is up and Quartile 1 is down. Look to the Market Action Index to determine when we may see a shift in prices from these
current levels. Often, we find insights by watching pricing trends within the quartile segments.
2media Info Market Update for CORONA DEL MAR 32Media Info | http://www.2mediainfo.com
Despite recently falling prices, the price per square foot has stayed reasonably flat. This implies that there’s a portion of the market being priced at a premium. You can investigate this condition in the quartile details.
PRICE AND VALUE
INVENTORY
Inventory has been relatively steady around these levels in recent weeks.
2media Info Market Update for CORONA DEL MAR 42Media Info | http://www.2mediainfo.com
The CORONA DEL MAR market is currently quite strongly in the Buyer’s Market zone (below 30). The 90-day Market Action Index stands at 13. With several months
of inventory available at the current sales rate, buyers should find ample choice.
Home sales have been exceeding new inventory for several weeks. However because of excess inventory, prices have not yet stopped falling. Should the sales trend continue, expect prices to level off soon and potentially to resume their climb from there. Watch prices as the market transitions from a Buyer’s market to a Seller’s market.
The Market Action Index (MAI) illustrates the balance between supply and demand
using a statistical function of the current rate of sale versus current inventory.
An MAI value greater than 30 typically indicates a “Seller’s Market” (a.k.a. “Hot
Market”) because demand is high enough to quickly gobble up available supply. A
hot market will typically cause prices to rise. MAI values below 30 indicate a
“Buyer’s Market” (a.k.a. “Cold Market”) where the inventory of already-listed homes
is sufficient to last several months at the current rate of sales. A cold market will
typically cause prices to fall.
Residential house prices are a function of supply and demand, and market MARKET ACTION INDEX
conditions can be characterized by analyzing those factors. Watch this index for
sustained changes: if the index falls into the Buyer’s Market zone for a long period,
prices are likely in for a downward correction.
Not surprisingly given the overall Market Action Index, all quartiles are in the Buyer’s Market zone with several months of inventory given the current rate of demand for homes in the quartile. Watch the quartile for changes before the overall market shifts. Often one end
of the market (e.g. the low end) will improve and signal a strengthening market before the whole group changes.
The quartiles can help you answer the question, “How hot is the market for homes
in my price range?”
MARKET ACTION
2media Info Market Update for CORONA DEL MAR 52Media Info | http://www.2mediainfo.com
DAYS ON MARKET (DOM)
The properties have been on the market for an average of 156 days. Half of the listings have come newly on the market in the past 126 or so days.
DOM PER QUARTILE
It is not uncommon for the higher priced homes in an area to take longer to sell than those in the
lower quartiles.
2media Info Market Update for CORONA DEL MAR 62Media Info | http://www.2mediainfo.com
Neighborhood Detail 92625
CORONA DEL MAR
http://www.2newportbeach.com/content/corona-del-mar-properties.php
Most Expensive Listing
Least Expensive Listing
Median List Price
Average List Price
Real-Time Market Profile Trend
Total Inventory
$ 2,599,999
$ 3,750,746
$ 75,000,000
$ 1,079,500
103
Average Days on Market 156
Asking Price per Square Foot $ 1,010
Absorbed This Week 6
The median single family home price in CORONA DEL MAR Realty 92625 this week is $2,599,999.
THIS WEEK
Median Number of Bedrooms
Median Number of Bathrooms
Median House Size (sq ft)
Median Lot Size
Median Age
2,797
3.8
3.0
40
Altos Research Value Statistics
6,501 - 8,000 sq ft
Market Action Index Cold! Buyer’s 13
Even though the days-on-market is trending higher, so is the Market Action Index at these inventory levels, providing a neutral outlook for the market.
PRICE
We continue to see prices in this zip code bouncing around this plateau. Look for a persistent upshift in the Market Action Index before we see prices move from these levels.
2media Info Market Update for CORONA DEL MAR Homes for Sale 2Media Info | http://www.2mediainfo.com
PRICE PER QUARTILE
In the quartile market segments, we see the market without strong directional trend lately. Prices in Quartiles 3 and 4 have been mixed in recent weeks, while Quartile 2 is
up and Quartile 1 is down. Look to the Market Action Index to determine when we may see a shift in prices from these current levels.
Characteristics per Quartile QUARTILES
Bed Bath
Med. Sqft Med.
Age Inven. New
AbQuart
Median Price Med. Lot Size sorbed
Avg.
DoM
3,185 4.0 4.0 46 25 2 2 Most expensive 25% of homes
6,501 - 8,000
1 $ 4,595,000 sq ft 146
2,800 4.0 4.0 40 26 1 1 Upper-middle 25% of homes
4,501 - 6500
2 $ 3,249,500 sq ft 196
2,525 4.0 3.0 41 26 1 1 Lower-middle 25% of homes
8,001 - 10,000
3 $ 2,325,000 sq ft 155
1,930 3.0 3.0 41 26 3 2 Least expensive 25% of homes
6,501 - 8,000
4 $ 1,579,250 sq ft 128
The value placed on homes continues to increase, despite the fact that prices in general have
been basically flat recently. These conditions can arise when inventory is light and more,
smaller homes have more influence on overall prices.
PRICE AND VALUE
2media Info Market Update for CORONA DEL MAR Real Estate homes for sale 2Media Info | http://www.2mediainfo.com
INVENTORY
Inventory has been climbing lately with 103 properties available this week. Note that rising inventory alone does not signal a weakening market. Look to the Market Action
Index to gauge whether buyer interest is keeping up with available supply. The CORONA DEL MAR 92625 is quite strongly in the Buyer’s Market zone. The 90-day Market Action Index stands at 13. With several months of inventory available at the current sales rate, buyers should find ample choice.
MARKET ACTION INDEX
MARKET ACTION
Not surprisingly, all quartiles are in the Buyer’s Market zone with several months of inventory given the current levels of demand. Watch the quartiles for changes before the overall market shifts.
2media Info Market Update for CORONA DEL MAR 9
Don’ forget to visit all of the 2media luxury site to help find your dream home. They include http://www.2lajolla.com/, www.2lagunabeach.com, www.2beverlyhills.net, and www.2santabarbara.com
Tags: 2beverlyhills.net, 2lagunabeach.com, 2lajolla.com, 2media.us, 2mediainfo.com, 2newportbeach.com/content/corona-del-mar-mls.php, 2newportbeach.com/content/corona-del-mar-properties.php, 2santabarbara.com, corona del mar, corona del mar market update, corona del mar real estateCurrent prices for homes on the market
Trends in pricing
Current levels of supply and demand
Value metrics
For a complete market report go for Corona del Mar real estate go to www.2mediainfo.com
market update2media
CORONA DEL MAR
92625
2008-09-12
Report for the week of
2mediainfo.com
www.2mediainfo.com/info@2mediainfo.com
Presented by 2media Info
949-723-3160
2Media Info | http://www.2mediainfo.com
The median single family home price in CORONA DEL MAR this week is $2,624,499. The 102 homes have been on the market for an average of 149 days.
To view all the listings in Corona del Mar go to http://www.2newportbeach.com/content/corona-del-mar-mls.php have been on the
THIS WEEK
Average Days on Market 149
Asking Price per Square Foot $ 998
Absorbed This Week* 11
Percent of Properties with Price Decrease 46 %
Percent Relisted (reset DOM) 14 %
Percent Flip (price increased) 3 %
City Overview CORONA DEL MAR
Even though the days-on-market is trending higher, so is the Market Action Index at these inventory levels, providing a neutral outlook for the market. To get a tightly targeted
understanding of homes in the market, we break each locale into quartiles. Each quartile is 25% of the homes listed.
QUARTILES
Characteristics per Quartile
3,409 4.0 5.0 36 25 1 1 Most expensive 25% of homes
6,501 - 8,000
1 $ 4,595,000 sq ft 141
2,800 4.0 4.0 42 25 3 4 Upper-middle 25% of homes
4,501 - 6500
2 $ 3,295,000 sq ft 181
2,610 4.0 3.0 41 26 1 3 Lower-middle 25% of homes
8,001 - 10,000
3 $ 2,300,000 sq ft 163
1,930 3.0 3.0 41 26 3 3 Least expensive 25% of homes
6,501 - 8,000
4 $ 1,594,000 sq ft 115
We’ll refer to the quartiles in the trend graphs below.
PRICE
The market seems to have paused around this plateau. The Market Action Index is a good leading indicator for the durability of this trend.
QUARTILE PRICES
Pricing trends have been lacking strong directional indication lately. Prices in Quartiles 3 and 4 have been mixed in recent weeks, while Quartile 2 is up and Quartile 1 is down. Look to the Market Action Index to determine when we may see a shift in prices from these current levels.
Often, we find insights by watching pricing trends within the quartile segments.
The market plateau is seen across the price and value. The price per square foot and median list price have both been reasonably stagnant. Watch the Market Action Index for persistent changes as a leading indicator before the market moves from these levels.
PRICE AND VALUE
INVENTORY
Inventory has been relatively steady around these levels in recent weeks.
2media Info Market Update for CORONA DEL MAR 4
2Media Info | http://www.2mediainfo.com
The CORONA DEL MAR market is currently quite strongly in the Buyer’s Market zone (below 30). The 90-day Market Action Index stands at 13. With several months of inventory available at the current sales rate, buyers should find ample choice. Home sales have been exceeding
new inventory for several weeks. Since this is a Buyer’s market prices are not yet moving higher as excess inventory is consumed. However, the as supply and demand trends continue, the market moves into the Seller’s zone, and we are likely to see upward pressure on pricing.
The Market Action Index (MAI) illustrates the balance between supply and demand
using a statistical function of the current rate of sale versus current inventory.
An MAI value greater than 30 typically indicates a “Seller’s Market” (a.k.a. “Hot
Market”) because demand is high enough to quickly gobble up available supply. A
hot market will typically cause prices to rise. MAI values below 30 indicate a
“Buyer’s Market” (a.k.a. “Cold Market”) where the inventory of already-listed homes
is sufficient to last several months at the current rate of sales. A cold market will
typically cause prices to fall.
Residential house prices are a function of supply and demand, and market MARKET ACTION INDEX
conditions can be characterized by analyzing those factors. Watch this index for
sustained changes: if the index falls into the Buyer’s Market zone for a long period,
prices are likely in for a downward correction.
Not surprisingly given the overall Market Action Index, all quartiles are in the Buyer’s Market zone with several months of inventory given the current rate of demand for homes in the quartile. Watch the quartile for changes before the overall market shifts. Often one end
of the market (e.g. the low end) will improve and signal a strengthening market before the whole group changes.
The quartiles can help you answer the question, “How hot is the market for homes
in my price range?”
MARKET ACTION
2media Info Market Update for CORONA DEL MAR 5
2Media Info | http://www.2mediainfo.com
DAYS ON MARKET (DOM)
The properties have been on the market for an average of 149 days. Half of the listings have come newly on the market in the past 119 or so days.
DOM PER QUARTILE
It is not uncommon for the higher priced homes in an area to take longer to sell than those in the lower quartiles.
2media Info Market Update for CORONA DEL MAR 6
2Media Info | http://www.2mediainfo.com
Neighborhood Detail 92625
CORONA DEL MAR THIS WEEK
Market Action Index Cold! Buyer’s 13
Characteristics per Quartile QUARTILES
Even though the days-on-market is trending higher for Corona del Mar real estate, so is the Market Action Index at these inventory levels, providing a neutral outlook for the market.
PRICE
We continue to see prices in this zip code bouncing around this plateau. Look for a persistent up shift in the Market Action Index before we see prices move from these levels.
2media Info Market Update for CORONA DEL MAR 7
2Media Info | http://www.2mediainfo.com
PRICE PER QUARTILE
In the quartile market segments, we see the market without strong directional trend lately. Prices in Quartiles 3 and 4 have been mixed in recent weeks, while Quartile 2 is up and Quartile 1 is down. Look to
3,409 4.0 5.0 36 25 1 1 Most expensive 25% of homes
6,501 - 8,000
1 $ 4,595,000 sq ft 141
2,800 4.0 4.0 41 25 3 4 Upper-middle 25% of homes
4,501 - 6500
2 $ 3,295,000 sq ft 181
2,610 4.0 3.0 41 26 1 3 Lower-middle 25% of homes
8,001 - 10,000
3 $ 2,300,000 sq ft 163
1,930 3.0 3.0 41 26 3 3 Least expensive 25% of homes
6,501 - 8,000
4 $ 1,594,000 sq ft 115
The value placed on homes continues to increase, despite the fact that prices in general have
been basically flat recently. These conditions can arise when inventory is light and more,
smaller homes have more influence on overall prices.
PRICE AND VALUE
2media Info Market Update for CORONA DEL MAR 8
2Media Info | http://www.2mediainfo.com
INVENTORY
Inventory has been climbing lately with 102 properties available this week. Note that rising inventory alone does not signal a weakening market. Look to the Market Action Index to gauge whether buyer interest is keeping up with available supply. The CORONA DEL MAR 92625 is
quite strongly in the Buyer’s Market zone. The 90-day Market Action Index stands at 13. With
several months of inventory available at the current sales rate, buyers should find ample choice.
MARKET ACTION INDEX
MARKET ACTION
Not surprisingly, all quartiles are in the Buyer’s Market zone with several months of inventory given the current levels of demand. Watch the quartiles for changes before the overall market shifts.
2media Info Market Update for CORONA DEL MAR 9
2Media Info | http://www.2mediainfo.com
DAYS ON MARKET
The properties have been on the market for an average of 149 days. Half of the listings have come newly on the market in the past 119 or so days. Watch the 90-day DOM trend
for signals of a changing market.
DAYS ON MARKET
It is not uncommon for the higher priced homes in an area (Quartiles 1 and 2) to take
longer to sell than those in the lower quartiles.
Tags: 2mediainfo.com, 2newportbeach.com, 92625, corona del mar, Corona del Mar, corona del mar real estateCorona del Mar real estate market report for the week of 9/7/2008